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Mission

Department of Administration mission: To serve and satisfy our customers.

It is the mission of the Division of Banking and Financial Institutions to protect Montanans by regulating state-chartered and licensed financial institutions under its supervision.

Goals and Objectives - 2011 Biennium

Goal 1: Protect Montanans who enter into short term, high rate loans with lenders from abuses that occur in the credit marketplace.

  • Objective 1: Examine deferred deposit, title, and consumer lenders to ensure compliance with Montana and federal law.
  • Objective 2: Issue licenses to entities who meet the requirements of law.
  • Objective 3: Provide Montanans with a consumer complaint process involving any licensed entity that violates the law.

Goal 2: Protect Montanans who enter into residential mortgage loans with mortgage brokers and lenders from abuses that occur in the credit marketplace.

  • Objective 1: Examine mortgage broker and lender licensees to ensure compliance with Montana and federal law.
  • Objective 2: Issue licenses to entities and individuals who meet the requirements of law.
  • Objective 3: Provide Montanans with a consumer complaint process involving any mortgage licensee that violates the law.

Goal 3: Provide Montanans with a safe and sound system of state-chartered financial institutions.

  • Objective 1: Examine state-chartered financial institutions to assure their operations are in accordance with law and sound financial institution practices.
  • Objective 2: Coordinate the supervision of financial institutions with federal regulatory agencies.

Goal 4: Promote the dual regulatory system that allows state and federal governments to act independently to charter, regulate and supervise financial institutions for the good of Montanans.

  • Objective 1: Address the needs of banks and credit unions, the local communities and Montanans while assuring safe and sound banking practices.
  • Objective 2: Authorize state-chartered banks and state-chartered credit unions to engage in any activity in which the bank or credit union could engage if it were operating as a national bank or federal credit union as provided by law.

Goal 5: Improve the dissemination of information and services through web-based tools.

  • Objective 1: Offer updated information including press releases, consumer alerts, lists of regulated financial institutions, and forms through banking.mt.gov.
  • Objective 2: Provide electronic licensing of mortgage brokers, loan originators and residential mortgage lenders.
  • Objective 3: Offering to email information, forms, or documents to financial institutions and consumers whenever possible in lieu of mailing or faxing the materials.

Performance Indicators

Indicator

Actual FY2004

Actual FY2005

Actual FY2006

Estimated FY2007

Requested FY2008

Requested FY2009
Regulated depositories - banks, credit unions            

Number

81

81

80

79

77

76
Examinations 38 44 42 43 40 40
             

Regulated non-depository lenders - consumer loan, title loan, deferred deposit loan licensees

            
Applications for new licenses 103 116 108 100 92 90
Licenses outstanding 475 515 530 550 518 500
Examinations 81 161 189 203 201 203
             
Other regulated businesses            
Applications for new mortgage broker and loan originator licenses N/A* 620 156 125 125 125
Mortgage broker and loan originator licenses outstanding N/A* 516 562 625 650 650
Mortgage broker and loan originator examinations N/A* 0 7 15 25 40
Applications for new sales company licenses 24 20 13 15 15 15
Sales finance company licenses outstanding 153 151 149 150 150 150
Escrow company licenses outstanding 9 9 8 9 9 10
Other examinations and investigations 5 1 0 0 0 0
             
Other information            
Complaints processed 24 44 76 N/A** N/A** N/A**

Refunds, rebates, and penalties from lenders to borrowers as a result of examinations - Number/Amount

 10,145$2,027,478 Not available $466,124

Not available $35,169

N/A**N/A**

N/A** N/A**

 N/A** N/A**
* Licensing was not required before July 1, 2004
** There is no basis for estimating these numbers, although preliminary information indicates that FY 2007 refunds will be at least $125,000.

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Division of Banking and Financial Institutions
301 South Park, Suite 316, PO Box 200546, Helena, MT 59620
Phone: (406) 841-2920 Fax: (406) 841-2930